A number of proposals have been made for the utilization of wave and/or tidal power for generation of electrical power. Such prior proposals generally include generating apparatus which utilize float means moveable by the wave motion on an open body of water. The movement of the float means is then translated into electrical energy by appropriate mechanical apparatus arranged to drive power generating apparatus. The present invention is directed to an improved form of apparatus based on particular improvements to the disclosure in U.S. Pat. No. 4,249,639 for utilizing the potential energy in water movement, and particularly wave motion, to generate electrical power.